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02 Dec 2020

Stephenson Harwood advises Louis Dreyfus on the issuance of its first rated Eurobond

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Law firm Stephenson Harwood LLP has advised Louis Dreyfus Company (LDC), a global agricultural-commodities company, on the issuance of its first rated Eurobond.

The five-year bond is sized at €600 million and has a coupon of 2.375 % per annum. It is listed on the Luxembourg Stock Exchange’s regulated market. Founded in 1851, LDC operates across a diverse range of business lines – with activities that span the entire value chain, from origination to distribution – helping to feed and clothe up to 500 million people every year. The company employs approximately 18,000 people worldwide, and is active in more than 100 countries.

“This is a hugely important step for LDC,” said Jeremy Grant, partner, Stephenson Harwood. “The investment grade BBB- rating, assigned to the group, confirms its robustness and durability during this difficult period in the global economy. In addition, the multiple oversubscription and yield achieved attests to the bond’s attractiveness for investors.”

The assignment of the investment grade rating follows LDC’s announcement regarding the cession of an indirect 45% equity stake in Louis Dreyfus Company B.V. to Abu Dhabi-based holding company ADQ.

Capital markets partner Jeremy Grant, who has been advising LDC since its first entry into the international bond markets more than 10 years ago, led the team. He was assisted on this transaction by associate Cloe Nguyen.

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KEY CONTACT

Jeremy Grant

Jeremy Grant
Partner

T:  +33 1 44 15 82 69 +44 20 7329 4422 M:  +33 6 85 06 66 46 Email Jeremy | Vcard Office:  London, Paris

Cloé Nguyen

Cloé Nguyen
Associate

T:  +33 1 44 15 81 99 M:  Email Cloé | Vcard Office:  Paris

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Rose Russell
Communications and PR executive

T: +44 20 7809 2961 
Email Rose

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